Jun 5 2006
A UK popular government-backed savings provider is giving young and old account holders easier access to their investments from this month.
National Savings and Investments (NS&I) has removed the one month notice period on the Investment Account previously required before savers could access their funds or they would have faced a penalty.
In the past, 60 per cent of customers opted for easy access despite having to incur the penalty equal to 30 days interest.
New terms allow customers access to their money within a few days – with no notice and no penalty – making it easier for customers to manage their money.
The account is open to anyone aged seven or over to investment, individually or jointly, any sum between £20 and £100,000 – the account can also be opened for a child under seven.
"We know from customer research that straightforward access is important to many of our customers. By removing the notice period for the Investment Account we are making it easier and more attractive for customers to manage their money," said Peter Cornish, marketing director for NS&I.
"The Investment Account not only offers a safe home with attractive rates of return but now there is the added benefit of easy access which will appeal to existing and new customers alike."
Scottish Friendly Assurance is another investment provider which offers tax-free child bonds, for more information click on our free brochures page.
